As of February 26, 2021, 17 of these 19 hotels have resumed operations. We may also place new mortgages on our existing properties as a means of financing. As of February 26, 2021, we are fully drawn under our revolving credit facility. Our day to day operations are conducted by RMR LLC. The hotel industry is highly competitive. 12Table of Contents Internet Website. However, compliance with the safe harbors is not always achievable in practice. Our Relationship with Our Taxable REIT Subsidiaries. However, most of these guarantees were limited in dollar amount and duration. We face significant competition. The continued existence of the COVID-19 pandemic may increase these risks. Ownership of real estate is subject to environmental risks and liabilities. We are also required to pay for third party costs incurred with respect to us. Sonesta managed 246 of our hotels as of February 26, 2021. Mr. Portnoy, Mr. Murray and Jennifer Clark, our Secretary, are directors of Sonesta. We own an approximately 34.0% ownership interest in Sonesta. Certain of our properties include gambling operations. Redemption may adversely affect noteholders' return on the Notes.